BullBinary is a brand owned and operated by Spot Capital Markets Limited. Spot Capital Markets Limited is a Cyprus registered and regulated investment company, license number 210/13. Address is Kanika Business Center, 318, 28th October Street, Limassol, 3105, Cyprus. Contact information for Bullbinary.com is 41 Constantinou Paleologou str., Q Building, Office 302, Larnaca, 6036, Cyprus. They have phone numbers for more than a dozen countries globally, live chat and can also be reached through email at [email protected] Along with CySEC regulation BullBinary.com has registered with local jurisdictions within the EU making them one of the premier brands for EU traders. Included on this list are tough countries like France, Italy and the Netherlands, all known for cracking down on non-regulated brokers. You can find out more about their regulation on their website
Is BullBinary A Scam?
If BullBinary.com is a scam then CySEC, the MiFID and the regulators of more than a dozen EU nations are all in on it. Bullbinary is a well regulated broker, legally registered and operating across the EU. This is not to say that you won’t find some complaints, because you probably will, but the broker is real new and operating real well so it might be a while before they start to come in.
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Editor’s Note – Why Doesn’t BullBinary Suck in 50 Words
First they are under substantial regulation and one of the safest places you can trade, so long as you trade with your eyes open, take the right approach and don’t think you are going to use this account like your cash cow. Along with that is a nice SpotOption platform set up for serious binary options trading. You won’t find any of the gimmicks that non-regulated brokers, and I mean non-regulated SpotOption brokers, use to “enhance” your trading experience.
Why Does BullBinary Suck in 50 Words
This broker sucks for 2 reasons. The first is that if you are not in the EU, or an EU friendly nation, you can’t trade here. The other reason it sucks is that it is a trimmed down version of the full SpotOption platform. There are no Ladder options and no Forex, not a huge deal but something you might miss if you’ve gotten a taste for trading them somewhere else.
Should I Open An Account With BullBinary?
If you are looking to get started with binary or looking for a new broker there is no reason why you shouldn’t use BullBinary. This broker is well regulated and has a more than adequate platform for trading short and long term binary options. In terms of SpotOption brokers they do not have all the features you might find elsewhere, things like iFollow/Spotfollow copy trading, Ladder Options, Forex and all those little gimmicky trader sentiment and trader tools that never seem to help to you win. What you will find are short term, mid term and long term binary option trading along with a few Pair trades for those who are into that. Short Term is 60 seconds, 90 seconds, 2 minutes and 5 minutes expiry options. The Binary Options are a variety of intraday and end of day expirations, Long Term are end of day, tomorrow, end of week, next week and end of month out to 6 months on some of the more heavily traded assets.
The asset list is adequate as well. They have hundreds listed, dozens of pairs, every index on the planet, commodities ranging from pork bellies to cocoa but what you find on the platform is much more modest. I found 11 pairs, 3 commodities including gold, oil and silver, only 6 indices and a few stocks. Like I said, adequate, more than you really need but there is a chance they won’t have you are looking for.
One of the perks you get by using this broker is safe banking protected by the Investors Compensation Fund. The minimum deposit is $250 depending on your currency and can be made by credit card, eWallet and wire transfers. Withdrawals are guaranteed but may take up to 10 days to process and show to your account. To get a withdrawal you will have to print and sign a request, then scan and email it back to them, but that small step is nothing considering you will actually get your withdrawals, unlike with some brokers. Bullbinary is still offering bonuses as of this review, with terms that I find agreeable. The turnover is 40 times the bonus but your deposit is always withdrawable and your profits are available based on the deposit/bonus ratio up to the point you hit the turnover.
So far there are very few complaints, if any, on the Internet. I was not able to find any on our forum, or ForexPeaceArmy. I am sure there are some out there but I’d wager they aren’t too serious, and probably due to someone not reading the terms and conditions, or from some marketer trying to drive traffic to some other broker.
Bullbinary.com has two bonuses that you should be aware of. The first is a risk free first trade, up to $1000, that is paid back with bonus money. The good news is that this broker uses the EU’s dep/bonus ratio method to determine how much of your account is real money and how much is bonus money and uses that figure to dispense your profits on a prorated basis until the full trading volume is met. Then the bonus and all the profit become available for withdrawal. The second bonus is really a cash back gift based on trading volume and your first deposit. The minimum to qualify is a $500 deposit with $10,000 trading volume to get a $100 cash back. Not too bad I think, way better than the old days when no withdrawals could made at all until the turnover was met.
To be honest the withdrawal process with the new age of EU regulation is a bit of a pain in the ass. You have to print and fill out a request form, sign it, scan it, send it back and then wait the usual 7 to 10 business days. That said, I don’t mind the work when it means the withdrawals really come. The minimum is $50 and can be done using any method of deposit available including wires, CC and eWallets.
User Friendly 18/20
This broker is very user friendly, has an easy to use platform and can be trusted. It comes in a number of languages, uses the SpotOption platform and is filled with support materials.
Number of assets and expiry times 14/20
The number of assets I found you could actually trade is limited but adequate. The expiries are much better, listing a full range of short, mid and long term for any trading style.
Commissions, Support and Effective return 17/20
No commissions and no fees for withdrawals, good. Support is good too, available though live chat, email or phone. Effective return leaves a little to be desired but once again I say, I’ll take it considering you can trust this broker to pay out what they say, and then honor your withdrawal request.
Deposit, Payment and Bonus 19/20
I score these guys really high on deposits, payments and bonus. Deposits can be made by wire, CC or eWallet and are guaranteed by the Investors Compensation Fund. Withdrawals can be made to the same, once KYC documents have been sent and approved. Bonuses are awesome too, either a risk free trade or cash back for turnover, neither of which will tie up your deposit or hinder your withdrawals.
Website Extras 10/20
No extra’s, just an extra-safe broker, which is something extra-special.
Bullbinary.com Overall Ratings 81/100